Economic news
Europe’s oil majors reap up to $4.75bn from trading on Iran war volatility
Trading desks at BP, Shell and TotalEnergies outshine US rivals
India drives global rise in coal-based steel capacity
New blast furnace projects threaten to undermine shift to greener production elsewhere
American agriculture is broken
Fixing it will require much more than the new farm bill can deliver
China fixes currency at 3-year high ahead of Trump-Xi meeting
Data meanwhile shows deflationary pressures easing in world’s second-largest economy
Iran says it will ‘never bow’ as Trump rejects peace counteroffer, prolonging Middle East conflict
Washington has sought to press Beijing to lean on Tehran to reopen the strait, though China’s appetite to act as a pressure mechanism remains unclear.